LAGOS, Nigeria, January 1, 2018 /PRNewswire/ --

APPLICATION DEADLINE: March 1, 2018
PROGRAM DATES: May 1 - December 2018

Africa's largest philanthropy supporting entrepreneurship - The Tony Elumelu Foundation (TEF) is now accepting applications for business ideas that can transform Africa.

To apply, complete the online application at application.tonyelumelufoundation.org. The deadline is midnight (WAT) on 1 March 2018.

The Programme provides critical tools for business success, including:

• Training: 12 weeks of intensive online training which guides creating and managing a business

• Mentoring: A world-class mentor to guide during the early transformation stages of the business

• Funding: $5,000* in seed capital to prove the concept, plus access to further funding

• Network: Access to the largest network of African start-ups and TEF's own global contacts

The Programme, in its 4th cycle, is TEF's 10-year, $100 million commitment to identify, train, mentor and fund 10,000 African entrepreneurs by 2024.

TEF Founder, serial entrepreneur and philanthropist Tony O. Elumelu, CON said:

"When we launched the TEF Programme and committed $100 million, I knew we would create impact, but I never imagined it would be of this magnitude. We've unleashed a movement of African entrepreneurs -- a force so strong, I am confident they will collectively transform Africa. We need Africa's best and brightest to grow their businesses and build our continent."

1,000 entrepreneurs will be selected based on the viability of their idea, including: market opportunity; financial understanding; scalability; leadership and entrepreneurial skills.

Eligibility:

1. The business must be based in Africa

2. The business must be for profit

3. The business must be 0-3 years old

4. Applicants must be at least 18 and a legal resident or citizen of an African country

CEO of the Foundation, Parminder Vir OBE said:

"We encourage women, French and Portuguese speakers to apply. Our 3,000 alumni are already growing their businesses and improving lives. If you have a transformational business or an idea, we have an opportunity for you."

* $5,000 seed capital is paid based on the official Central Bank of Nigeria naira equivalent value at the date of selection for the programme.

About The Tony Elumelu Foundation

The Foundation's long-term investment in empowering African entrepreneurs is emblematic of Tony Elumelu's philosophy of Africapitalism, which positions Africa's private sector, and most importantly entrepreneurs, as the catalyst for the social and economic development of the continent.

www.tonyelumelufoundation.org

SOURCE Tony Elumelu Foundation

CONTACT: Bolanle Omisore, Head, Marketing and Communications, The Tony Elumelu Foundation, Heirs Place, 1 MacGregor Road - Ikoyi, Lagos - Nigeria, M: +234-705-454-6117, E: Bolanle.omisore@tonyelumelufoundation.org, www.tonyelumelufoundation.org